When people talk about blockchain they often do so within the context of cryptocurrencies like Bitcoin and Ethereum. But the blockchain revolution isn’t just about people being able to easily transfer money back and forth to each other without interference from banks or governments. The technology is advancing so rapidly that it is quickly being adopted by major corporations like Google and Amazon into a wide array of industries.
And, as Robert Galarza, CEO of publicly traded BLOCKStrain Technology (DNAX.V) explains in a recent interview with SGT Report, it is also being used for advanced medical applications related to genetics verification. In the case of Galarza’s company, blockchain tech is focused on newly regulated marijuana markets in the United States and Canada, where systems to track and verify the genome of specific plants create total trust, protection and legitimacy for breeders, growers, and distributors in a market that has long operated in the shadows.
And with President Trump now considering lifting the Federal ban on marijuana and leaving States to create their own regulations, technology that protects consumers can’t come soon enough.
With BLOCKStrain, users of marijuana, whether for medical or recreational reasons, will now have a way to ensure that the product they’re consuming is exactly what it’s supposed to be:
There are no standards and that’s a scary proposition when you’re looking at the biochemical and chemistry effects that this plant has when literally two batches of the same product from the same mothering plant can yield two separate products with different THC and CBD levels…
The problem there is if you’re taking it medically for example, sometimes there are people with heart conditions that get on a high level Sativa with high level THC and they can go into respiratory failures…
There are a lot of factors that go into needing to make sure that you have… even from a legal source.. an understanding of what you’re putting in your body.
The black market in this industry taints a lot of product… That’s a scary thing and that’s why it’s so important that we have a safe and legal inventory that’s clean and tested going from the producers to the consumers.
With marijuana sales expected to bring in billions of dollars on a yearly basis from millions of consumers in North America, standardization is critical for consumer safety.
And that’s where BLOCKStrain comes into play. To be clear, BLOCKStrain isn’t issuing their own cryptocurrency, token or Initial Coin Offering. Rather, they are using the immutable nature of blockchain technology to ensure that the distribution systems cannot be compromised by bad actors:
We’re a data company and we’re building a framework that can empower and bolster the industry…. and it can support secondary systems for visibility and supply chain management across the board.
Companies like Google and the Amazon’s of the world are built upon intelligent information… and there are billions of data points when you’re looking at the cannabis industry…
We look at the most genesis starting point of the product… the most finite portion, which is the genetic framework of this agricultural good.
As Galarza notes, his company and those now positioning themselves within the legal Cannabis marketplace are at the very tip of the iceberg of an industry that is just getting of the ground.
Click here to learn more about BLOCKstrain Technology Corp.
For more interviews like this one visit SGT Report